jan 1, 1949 - Comecon

Description:

- Council for Mutual Economic Assistance
- 1949
- Eastern Bloc's response to Marshall Plan
- aimed to promote economic cooperation and integration among its member countries = coordinate economic planning, trade, industrial development to have self sufficiency
- central planning: allocation of resources, setting production targets, sharing technological knowledge, easier trade & exchange.
- ideological unity (communism)
- Members: Soviet Union; Poland, Czechoslovakia, Hungary, Romania, Bulgaria, Eastern Germany (+ Vietnam and Cuba joined eventually)

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